A trickle of changes around China's Covid controls in the last day is raising hopes that broader relaxation is on the way.
One notable development is official language downplaying the severity of the Omicron variant.
"We believe Sun's speech, in addition to the notable easing of Covid control measures in Guangzhou yesterday, sends yet another strong signal that the zero-Covid policy will end within the next few months," Nomura's Chief China Economist Ting Lu and a team said in a report Thursday. Local state media reports and anecdotes indicated Thursday that some people who tested positive for Covid-19 in Beijing might now be allowed to quarantine at home instead of being sent to a centralized facility. It was not clear to what extent these changes applied.
Vice Premier Sun Chunlan said at a meeting Wednesday that China faces a new Covid situation "as the Omicron variant's pathogenic nature weakens, vaccination becomes more common and [there's] an accumulation of experience with Covid prevention and control." That's according to a CNBC translation of the Chinese state media report late last night.
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